Following on from our recent article about the pressures being faced by the Financial Ombudsman Services (FOS) as a result of an increase in complaints, it has been reported the Financial Conduct Authority (FCA) is facing similar pressures as a result of the number of whistleblowing allegations. The FCA has reported receiving almost 2,500 separate […]
Latest figures released by the Financial Ombudsman Service (FOS) reveal that it received over 280,000 complaints last year and has a backlog of 163,000 cases. And this is after complaints about PPI are supposed to have ended! FOS currently has 3,500 staff, which is a big number, but down from the 4,500 in 2016 at […]
We are delighted to confirm that we have renewed our Professional Indemnity Insurance (PII) cover for the next 12 months. It might seem unusual to “celebrate” securing routine PII cover, but in the advice market there are real issues with the availability of cover. Especially for firms like ours who provide advice on Defined Benefit […]
Quilter has made some interesting discoveries about the extent of online fraud from a recently submitted Freedom of Information request. It seems that there were 3.7 million incidents of fraud in 2019 (bear in mind that these figures are already two years out of date) and only 1 in 5 of these were actually reported […]
We are increasingly worried about the prospects of the younger generation when it comes to their retirement. The days of the old final salary pension schemes have all but disappeared, unless of course you work in parts of the public sector. Almost all workplace schemes are now private pension schemes and there is little chance […]
The Financial Conduct Authority (FCA) plays a vital role in supervising the financial services industry. It is there to protect consumers by ensuring that firms work within a defined set of rules which have consumer protection at their heart. Overall, it is a force for good, but it does let itself down on a pretty […]
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